The semiconductor sector is doing something it’s never done before. The PHLX Semiconductor index has posted gains in 16 straight sessions, marking its longest winning streak on record. Leading the charge for the benchmark are Credo Technology and Astera Labs , up 115.8% and 93.5%, respectively. Marvell Technology has also soared nearly 80% in that time. Those gains come after a revival in the artificial intelligence trade sparked by the emergence of Mythos, Anthropic’s latest AI model. On top of that, the sector has seen strong quarterly results. Taiwan Semiconductor, Texas Instruments and Broadcom have all posted earnings beats this season. SOXQ mountain 2026-03-30 SOXQ since March 30 “This has all reinforced the narrative of a powerful, AI-driven demand cycle. So the talk of an AI bubble from last year has receded for now, with investors moving back into high-beta technology and semiconductor names,” Deutsche Bank strategist Jim Reid wrote. Chips have also propelled the broader stock market back to record highs, with help from expectations that a deal between Iran and the U.S. to end the war will be reached. The S & P 500 and Nasdaq Composite hit records on Wednesday. Semiconductors have also been one of this bull market’s leaders, so outperformance in the space should bode well for equities in general. To be sure, Reid noted there are risks ahead for chips. “The sector faces challenges from its geopolitical exposure, as well as the heavy concentration of manufacturing in Taiwan. The recent Iran conflict has also highlighted its vulnerability to the global helium supply. Helium is used for cooling and creating inert, non-reactive environments during production, and has no viable substitute for some applications,” he said. “For now, however, the powerful AI growth story continues to propel the sector forward, and has significantly offset macro and market concerns around the war.”
